Basic Annual Rent. It is the intent of both parties that the Basic Annual Rent herein specified shall be absolutely net to the Landlord throughout the term of this Lease, and that all costs, expenses and obligations relating to Tenant’s pro-rata share of the Building, Property and/or Building, Property and/or Leased Premises which may arise or become due during the term shall be paid by Tenant in the manner hereafter provided. For purposes of this Part IV and the Lease in general, the following words and phrases shall have the meanings set forth below:
Basic Annual Rent. Tenant agrees to pay to Landlord as basic annual rent (the “Basic Annual Rent”) at such place as Landlord may designate, without prior demand therefore and without any deduction or set off whatsoever, the sum of Two Million Ninety Nine Thousand Six Hundred Seventy Four dollars and no/100 (2,099,674.00). Said Basic Annual Rent shall be due and payable in twelve (12) equal monthly installments to be paid in advance on or before the first day of each calendar month during the term of the Lease. If the Lease is extended as provided for in section 2.3, then the Basic Annual Rent shall escalate at the beginning of the fourth year and every three (3) years thereafter using either a 3% annually compounded rate or the change in the All Urban Index, whichever is less (each such anniversary being referred to as an “adjustment date”). For purposes of this Lease the term “All Urban Index” shall mean the Consumer Price Index for All Urban Consumers-U.S. City Average-all Items (1982-1984 equals 100 base) as published by the United States Bureau of Labor Statistics or any successor agency or any other index hereinafter employed by the Bureau of Labor Statistics in lieu of said index. The price index for the third month proceeding the month in which the Lease commences shall be considered the Basic Price Index. Therefore, the beginning of the fourth year and every three years thereafter, the Basic Annual Rent set forth in this Section 3.1 shall be adjusted by multiplying such rental by a fraction, the numerator of which is the Price Index for the third month preceding the beginning of the anniversary (or each such adjustment date) and the denominator of which is the Basic Price Index. Additionally, the Laboratory Facility Basic Annual Rent will be adjusted in the same manner. In no event shall Basic Annual Rent or the Laboratory Facility Basic Annual Rent be reduced. In the event the Commencement Date occurs on a day other than the first day of a calendar month, then rent shall be paid on the Commencement Date for the initial fractional calendar month prorated on a per-diem basis (based upon a thirty (30) day month).
Basic Annual Rent. 4.1 From January 1, 2011 through June 30, 2012, the Basic Annual Rent for the Premises shall be One Dollar and 75/100 ($1.75) per rentable square foot per month on a triple net basis.
Basic Annual Rent. Monthly Installment. From and after July 1, 1997, the Basic Annual Rent for the Expansion Premises shall be $11,404.80, (based on $1.44 per square foot of Rentable Area), the monthly installment of the Basic Annual Rent shall be $950.40, and the per them amount for a partial lease month shall be $31.25.
Basic Annual Rent. Notwithstanding anything to the contrary in the Lease, commencing on the Extension Term Commencement Date and continuing throughout the Thirteenth Amendment Extension Term, Basic Annual Rent for the Premises shall be as set forth in the charts below and Tenant shall pay such Basic Annual Rent for the Premises in accordance with the terms and provisions of the Lease. Thirteenth Amendment Third Floor Remaining Premises Dates Square Feet of Rentable Area Basic Annual Rent per Square Foot of Rentable Area Monthly Basic Annual Rent December 23, 2017 – December 22, 2018 6,770 $2.35 monthly $ 15,909.50 December 23, 2018 – December 22, 2019 6,770 $2.42 monthly $ 16,383.40 First Floor Remaining Premises Dates Square Feet of Rentable Area Basic Annual Rent per Square Foot of Rentable Area Monthly Basic Annual Rent December 23, 2017 – December 22, 2018 110 $1.09 monthly $ 119.90 December 23, 2018 – December 22, 2019 110 $1.12 monthly $ 123.20
Basic Annual Rent. (See Paragraph 2) Months 1 to 12, inclusive: Monthly Installment: $155,924.83 ($31.00/square foot of Rentable Area/annum) Months 13 to 24, inclusive: Monthly Installment: $171,014.33 ($34.00/square foot of Rentable Area/annum) Months 25 to 30, inclusive: Monthly Installment: $188,618.75 ($37.50/square foot of Rentable Area/annum)
Basic Annual Rent. Tenant hereby agrees to pay Basic Annual Rent for Leased Premises in the amount specified in Item D, Section 1.02 of this Lease without a right of set-off, except as expressly provided in this Lease, payable in advance in equal consecutive monthly installments as specified in Item E, Section 1.02 of this Lease, on or before the first day of each month during the Lease Term.
Basic Annual Rent. (See Paragraph 2)
Basic Annual Rent. For purposes of this Lease, the "Prevailing Market Rent" shall mean the rental rate prevailing in the Del Mar Heights office market as of the date which is six (6) months prior to the expiration of the Lease Term, for renewals of space of equivalent quality, size, utility and location, and in buildings with comparable construction and amenities, with the length of the Extension Term, rent concessions then available in the Del Mar Heights office market for renewal tenants, and the credit standing of the Tenant to be taken into account. In no event however shall the Prevailing Market Rent for each Lease Year of the Extension Term be less than the Basic Annual Rent payable by Tenant for the last twelve (12) months of the initial Lease Term. If Tenant has timely exercised the option, Landlord shall notify Tenant in writing of the proposed new, Basic Annual Rent determined by Landlord for the Extension Term at least ninety (90) days prior to the Commencement Date of the Extension Term. Unless Tenant objects to the amount determined by Landlord within fifteen (15) days after receipt of such notice, the amount stated in such notice shall be the new Basic Annual Rent. If Tenant objects to Landlord's proposal, then the new Basic Annual Rent shall be determined by an MAI Appraiser chosen by Landlord and approved by Tenant. If Tenant does not disapprove of Landlord's choice of an appraiser by delivery of written notice of disapproval naming a Tenant's appraiser within five (5) days after written notice of such choice by Landlord, then Landlord's appraiser shall be deemed to be approved by Tenant. If Tenant does disapprove of Landlord's choice of an appraiser within the said five (5) days, then Tenant's notice of disapproval shall name an MAI Appraiser designated by Tenant. Within ten (10) days after the date of Tenant's notice of disapproval, Landlord's appraiser and Tenant's appraiser together shall select a neutral third MAI Appraiser. If they are unable to agree on a third MAI Appraiser within the said ten (10) days, then upon the application of either party, the third MAI Appraiser shall be designated by the Presiding Judge of the Superior Court the County where the property is located. Landlord's appraiser and Tenant's appraiser each shall determine a Prevailing Market Rent, to be submitted in writing to Landlord, Tenant, and the third MAI Appraiser within thirty (30) days after the date of Tenant's notice of disapproval. Within fifteen (15) days after receipt o...
Basic Annual Rent. The Basic Annual Rent for the Expansion ----------------- Premises shall be $1.00 triple-net (NNN) per square foot per month. The Basic Annual Rent for the Expansion Premises shall be payable beginning on the Expansion Rent Commencement Date (as defined in Paragraph 23.1(d) (4) below.) Beginning July 1, 1998, the Basic Annual Rent for the Original Premises shall be $1.00 triple-net (NNN) per square foot per month.
